| buyer agency, property location agency, buyer representation, property search services, buyer's agent, buyer agency, buyer's broker, buyer's brokerage services, property finding, property finder |
| Your Interests Must Be Represented... |
| What is Buyer Agency? |
Why a special section on Buyer Agency?
Well, one of my reasons putting this on my site is that Budapest Property
Finder is a Property Location Agency and I want you to enlist our services.
But what makes it interesting to You, the potential buyer or tenant, is the
fact, that you might believe that the real estate agent with whom you are
working - sometimes on a daily basis - represents You and Your
interests. Without certain disclosures, this definitely is not the case.
Well, one of my reasons putting this on my site is that Budapest Property
Finder is a Property Location Agency and I want you to enlist our services.
But what makes it interesting to You, the potential buyer or tenant, is the
fact, that you might believe that the real estate agent with whom you are
working - sometimes on a daily basis - represents You and Your
interests. Without certain disclosures, this definitely is not the case.
| The real-estate agent, unless specifically disclosed otherwise, represents the owner in any transaction. It is that agent's fiduciary duty (where their loyalty lies) to protect their own client's, the owner's position at all times. Buyer's Agency, however, may be an option available to you. Simply put, it allows the Agent whom you are working with to be your representative and to put your interests above all others. |
Example 1: You see a house advertised in a paper or the Internet. You contact the
Listing Agent (who will be advertising the home) and make an appointment to see the
house. The Agent is friendly, informative, and tells you what you believe to be everything
about the house. The Agent is hired, paid by and represents the seller, not you.
Example 2: You are working with an Agent, who shows you 25 different homes over 3
weeks. The Agent knows all 4 of your children by name as well as all of your personal
likes and dislikes, but does not offer Buyer Agency. You feel comfortable with the Agent,
revealing important personal information. Without Buyer Agency, "your" Agent owes
loyalty to, each and every one of those 25 sellers - not you. Any information you reveal to
the Agent must be relayed to the sellers.
"Okay," many buyers say, "so the Agent represents the seller and not me. Is that a big
deal?"
Maybe not, but it is important to understand that if the Agent represents the seller, they
cannot reveal certain things to you, as the buyer:
- The reason for selling (unless the seller authorizes it)
- Any concessions, in price or otherwise, that the seller may be willing to give up
- Any conversations that the seller and the Agent may have had
- Any information that could be detrimental to the owner or give you an advantage.
Listing Agent (who will be advertising the home) and make an appointment to see the
house. The Agent is friendly, informative, and tells you what you believe to be everything
about the house. The Agent is hired, paid by and represents the seller, not you.
Example 2: You are working with an Agent, who shows you 25 different homes over 3
weeks. The Agent knows all 4 of your children by name as well as all of your personal
likes and dislikes, but does not offer Buyer Agency. You feel comfortable with the Agent,
revealing important personal information. Without Buyer Agency, "your" Agent owes
loyalty to, each and every one of those 25 sellers - not you. Any information you reveal to
the Agent must be relayed to the sellers.
"Okay," many buyers say, "so the Agent represents the seller and not me. Is that a big
deal?"
Maybe not, but it is important to understand that if the Agent represents the seller, they
cannot reveal certain things to you, as the buyer:
- The reason for selling (unless the seller authorizes it)
- Any concessions, in price or otherwise, that the seller may be willing to give up
- Any conversations that the seller and the Agent may have had
- Any information that could be detrimental to the owner or give you an advantage.
| Buyer Agency turns the tables. Enlisting the services of an exclusive Buyer’s Agent, you have the representation from the Agent who You are working with, not the owner. If you are represented by your Buyer's Agent, some of the potential benefits include:
Is it necessary to have a Buyer's Agent? No. Thousands of home buyers have been well served dealing with the owner's Agent (it used to be the only way it was done). The important thing is to understand your options, so that you do not unintentionally accept less representation than you want. |
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| © 2008 Budapest-Propertyfinder.com | About us | Contact us |
| Disclaimer: the article serves merely information purposes. Due to its extent, it is neither an all round information nor shall it be qualified as legal advice. |
